On 19 December onion MEP was cut to USD 350 from USD 800 per tonne earlier
Government has decided to further reduce the Minimum Export Price (MEP) for onion to USD 150 per tonne from USD 350 per tonne. Earlier on 19 December 2013, Government had steeply cut the onion MEP to USD 350 per tonne from USD 800 per tonne to boost exports after protest by farmers with the decline in wholesale prices. A meeting was held on 25 December 2013 between the Minister of Agriculture and the Minister for Commerce and Industry to discuss the issues related with sharp decline in the wholesale prices of onions in the producing mandies of Maharashtra and need for a review of MEP.Secretaries of Departments of Commerce, Consumer Affairs and Agriculture/ Inter Ministerial Committee (IMC) on onions will regularly and closely monitor the arrivals, wholesale modal prices and retail prices of onions in the country.
The government will make appropriate interventions in future as and when required to ensure price stability for consumers and adequate domestic availability of onions along with price protection for farmers with a view to balance the interests of both farmers and domestic consumers.
Powered by Capital Market - Live News
